THE Bishop of Durham will take up a place on the inquiry which will look into the Barclays banking scandal.
The Right Reverend Justin Welby has been asked to sit on the Parliamentary Commission on Banking Standards, in the wake of the finance firm being fined for fixing the Libor exchange rate.
The Old Etonian studied law and history at Cambridge University and then worked in the oil industry, where he spent time as group treasurer of Enterprise Oil Plc and gained experience of the system.
He said: “I am very honoured to have been invited to take part in this important inquiry, which has an impact on all of use because ethical markets are essential to a flourishing economy, and thus jobs.”
His place alongside MPs and peers on the committee is as a politically non-aligned member of the House of Lords.
It will sit during Westminster’s summer recess and report by December 18.